I just saw something on TV about those ghost towns. Pretty creepy. I think a lot of it was built by the state as a way to keep the economy growing. It may end up having the opposite effect by creating such a surplus of housing that the bottom of the market falls out.

I too would be interested in what the poster from China knows about this.

On 60 minutes last night they said that a middle class of Chinese had very few choices for investing and didn't trust the stock market. They were allowed to invest in real estate projects and 3 generations of these people's savings were mostly in residential housing, places they couldn't possibly afford to live.

Everyone on the show agreed that it was a "bubble". There were brand new condo towers and malls stretching for miles with not a single person in any of them. I assume insiders are now getting in position to get rich when the "bubble" bursts, but how significant will it be to the world?

I watched the 60 minutes episode last night. Fascinating. Complete cities empty, brand new buildings empty. Incredible video. All due to a system where the people went for the fast gain. hard lessons are about to be learned in china. A large percentage of the money is from the state, trying to keep it all going. But the smart ones will not panic and sell, but hold through the collapse and come back on the return. But how many are smart enough to control the bursting of the bubble by that control. It is the las Vegas housing market on super steroids. Anxious for Arturo to comment on this.